From Toutiao to VC Paradigm, Huang Gongyu’s investment vision is very “venomous”

From Toutiao to the crypto venture fund Paradigm, investor Matt Huang’s achievements in the VC circle are obvious to all.

Boldly cast today’s headlines, which were established for half a year

When many domestic investors were not optimistic about Toutiao, the young Huang Gongyu saw its value.

In 2012, Toutiao, which was founded about half a year ago, met Huang Gongyu, an American entrepreneur who came to Beijing to travel. When talking about product technology issues, Huang Gongyu found that Toutiao’s technology was in line with Silicon Valley. At this time, Huang Gongyu had just sold his company to Twitter with a lot of money. Taking advantage of some money in his hands, Huang Gongyu boldly made today’s headlines and became his angel investor.

Huang Gongyu previously started his own business and did advertising data analysis work at Twittier, and also worked at Sequoia Capital, which made it easy for him to understand what the headlines of today were to do. According to estimates from the media, Huang Gongyu’s return on this investment in Toutiao was about 2,000 times, and that year, he was 24 years old.

Huang Gongyu’s career started from entrepreneurship. After graduating from the Massachusetts Institute of Technology in 2010, Huang Gongyu, Alexander Spicer and Ashutosh Singhal co-founded Hotspots.io, a data analysis company that advertised the use of actionable and accessible data analysis. , To help companies and individuals maximize their social media investment returns.

The company was acquired by Twitter in 2012. After the acquisition, Huang Gongyu and his co-founders joined Twitter to develop analytical tools for Twitter’s advertising and publishing partners. Two years later, Huang Gongyu joined Sequoia Capital. In 2018, after leaving from Sequoia Capital, Huang Gongyu and his friends established Paradigm, a cryptocurrency fund.

Paradigm with a slant sword

In June 2018, Paradigm was founded by Coinbase co-founder Fred Ehrsam (Fred Ehrsam), Sequoia Capital (Sequoia Capital) former partner Huang Gongyu (Matt Huang) and cryptocurrency fund Pantera Capital former employee Charles No. Co-founded by Charles Noyes.

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It’s not uncommon to leave a traditional venture capital institution to invest in cryptocurrency funds, but Paradigm’s style is even more skewed. The Paradigm introduction page states that its method is flexible, long-term, multi-stage and global. .

Paradigm invested all its initial raised capital of US$400 million in Bitcoin in 2018. At that time, the currency market was at a low price, and the price of Bitcoin was less than US$4,000. Then the fund sold them one by one according to investment needs and exchanged them for US dollars.

Paradigm’s investment is also different from ordinary VC companies: about 60% of its assets are invested in alternative assets such as digital tokens, and the remaining 40% of assets are used to invest in equity in start-ups.

Now, a few years later, Paradigm is rapidly emerging as a leader in cryptocurrency investment.

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Some key members of the Paradigm team

Investment territory

Recently, Golden Finance compiled the investment map of Paradigm. It is not difficult to find that in the past three years, Paradigm’s investment map has continued to expand. Now it has participated in as many as 40 projects, including FTX and Coinbase. A top-level trading platform, as well as popular projects such as Optimism and Starkware.

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These projects are mainly concentrated in the DeFi field, including MakerDAO, Compound, Uniswap , Yield, Synthetix, etc., as well as tool applications TaxIt, Argent, Flashbots, Namebase, etc.

According to the current news, Paradigm pays particular attention to NFT and NFT fragmentation projects at this stage. Not only invested in the NFT online market Zora and the NFT fragmentation platform Fractional. Not only that, Paradigm partners have publicly introduced the fragmented application of NFT and proposed new NFT primitives Mortys and NFT derivative floor perpetual contracts (floor perpetual)-a synthetic NFT that can track the floor of a given NFT project Price, and can be cast by locking the NFT of the project.

In terms of DeFi, Paradigm research partners Dave White and Dan Robinson are currently working with Uniswap founder Hayden Adams to design a new market-making model, TWAMM (The Time-Weighted Average Market Maker) . According to reports, TWAMM splits a large transaction into countless extremely small orders according to a dedicated order splitting logic, and executes all these transactions in the embedded AMM within a certain period of time. The price of the embedded AMM can be kept consistent with the market price to ensure execution near the time-weighted average price, and all transactions can also achieve lower gas costs.

In addition, Paradigm’s recent investment is quite worthy of taste, that is, a huge investment of $431 million in Bitcoin mining company Genesis Digital Assets. At the same time, Paradigm co-founder Huang Gongyu joined the board of Genesis Digital Assets. Genesis Digital Assets will use the new funds to expand its clean energy bitcoin mining business.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/from-toutiao-to-vc-paradigm-huang-gongyus-investment-vision-is-very-venomous/
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